There as been a consistent strong support at 1.06378 historically back testing for EURUSD. Whenever stock moves upwards or downwards sharply, it often retraces before continuing its journey with a solid fundamental analysis done we should see an upward move of this market from 1.06378.
A SECENERIO HAPPENED ON 23RD MARCH 2020
Bullish Scenario
A sustained move over 1.0696 will indicate the presence of buyers. This could trigger an acceleration to the upside since the nearest upside target is the short-term 50% level at 1.1066.
Bearish Scenario
A sustained move under 1.0696 will signal the presence of sellers. This could lead to a retest of 1.0636.
ENTRY 1.06580
TP 1.08058
SL 1.04437
A SECENERIO HAPPENED ON 23RD MARCH 2020
Bullish Scenario
A sustained move over 1.0696 will indicate the presence of buyers. This could trigger an acceleration to the upside since the nearest upside target is the short-term 50% level at 1.1066.
Bearish Scenario
A sustained move under 1.0696 will signal the presence of sellers. This could lead to a retest of 1.0636.
ENTRY 1.06580
TP 1.08058
SL 1.04437